Financial Aid Disbursement

Determining Your Payment Date: Financial aid is disbursed to your IVC student account according to the disbursement schedule posted below. Pell Grant funds are disbursed in three payments. Cal Grants and SEOG are disbursed in a single payment.

The "Payment Date" is the date funds will be available on the IVC Debit Card. This is approximately one week after funds appear on your account in WEBSTAR.

Fall 2014 *Freeze date: September 8, 2014

Payment Date

Pell 1st Disbursement (25%)

August 15, 2014

Pell 2nd Disbursement (25%)SEOG (100%)Cal Grant B & C (100%)

September 12, 2014

Pell 3rd Disbursement (50%)

October 10, 2014

Winter 2014

Units completed will be added to Spring enrollment-see Spring Schedule

N/A

Spring 2015*Freeze date: March 9, 2015

Pell 1st Disbursement (25%)

February 12, 2015

Pell 2nd Disbursement (25%)SEOG (100%)Cal Grant B & C (100%)

March 13, 2015

Pell 3rd Disbursement (50%)

April 24, 2015

Summer 2015

Pell Disbursement (50%)

June 26, 2015

Pell Disbursement (50%)

July 16, 2015

Note: Students awarded after the schedule payment dates listed above will have financial aid funds available approximately two weeks after awarding provided the student is still enrolled and eligible.

*If financial aid application is received after the freeze date, units will be frozen at the time of first payment authorization.

Determining Your Payment AmountYour payment amounts for all programs are based on enrollment status. The table below provides the enrollment status based on enrolled units.

Enrollment Status

Units

Full-time

12 or more

¾-time

9 to 11.5

½-time

6 to 8.5

Less than ½-time

.5 to 5.5

Financial aid disbursements will be based on your enrollment status as of a set date each semester, known as "freeze date". This is generally based on census rosters. If you add units after this date you will not receive an increase in your award. If you apply during the semester and the semester "freeze date" has passed, your enrollment status will be determined and frozen based on the date of your actual first disbursement. If you are paid for full or short term classes that you never attended, this may result in an overpayment and/or a reduced second disbursement.

Enrollment status can be adjusted for students due to Satisfactory Academic Progress standards. For example, you may be limited to specific courses as part of condition of your appeal. Basic skills and repeat course limitations may also reduce your enrollment status for financial aid purposes.

If you were paid aid and failed to begin attendance in the courses, you will owe a repayment of 100% of the funds. If you do not attend a late start class and have received payment for these classes, your eligibility will be recalculated to determine if funds must be repaid. In addition, dropping all classes prior to completing 60% of the semester may require you to repay a portion of your aid.

Pell Grant: Your payments will be based on your enrollment status at the freeze date.

The table below provides sample payment amounts for a student that is eligible for the maximum Pell Grant. Check your student account in WEBSTAR to determine your actual payment amounts.

One Semester Pell Grant Disbursements – Example Only

Enrollment Status

First Disbursement

Second Disbursement

Third Disbursement

Semester Total

Full-time (12 or more units)

$716

$719

$1433

$2865

¾-time (9 to 11.5 units)

$537

$537

$1075

$2149

½-time (6 to 8.5 units)

$358

$358

$717

$1433

Less than ½-time (.5 to 5.5 units)

$179

$179

$359

$717

SEOG: You must be enrolled at least half-time (6 or more units) to be eligible for SEOG funds. Enrollment status is determined at the freeze date and your award paid in one payment each semester.

The table below provides sample payment amounts for a student that is eligible for SEOG

One Semester SEOG Disbursement – Example Only

Enrollment Status

Disbursement

Full-time (12 or more units)

$200

3/4-time (9 to 11.5 units)

$150

1/2-time (6 to 8.5 units)

$100

CAL GRANT: You must be enrolled at least half-time (6 or more units) to be eligible for Cal Grant funds. Enrollment status is determined at the freeze date and the amount will be prorated for less than full-time status.

The table below provides sample payment amounts for a student that is eligible Cal Grant B.

One Semester Cal Grant B Disbursement – Example Only

Enrollment Status

Disbursement

Full-time (12 or more units)

$824

¾-time (9 to 11.5 units)

$618

½-time (6 to 8.5 units)

$412

Work-Study: Work-Study is paid monthly based on the hours worked the previous month and verified by your supervisor. See the Work-Study webpage for more information.

Financial Aid Refunds and the IVC Debit Card:At the time grant funds are posted to your account, any fees owed will be deducted and the remaining amount is considered a financial aid refund. This is the amount that will be posted to your IVC One account approximately one week after grant funds appear on your account. To determine the amount see the Account Summary by Term section in WEBSTAR.

If you are potentially eligible for a refund, an IVC One debit card will be mailed to you. Prior to using your IVC One debit card for the first time, you must log onto the Higher One website and activate your card by choosing your preferred method of payment, debit card or direct deposit to your own bank. If you wish to have a paper check, please contact the IVC Business Services Office to make that request. To avoid missing a scheduled disbursement, please activate your card and choose your method of payment promptly after receiving the card in the mail. Do not throw away your card even if you have funds transferred to your personal checking account. You may need it for future disbursements and you will be charged for a replacement card. Make sure Admissions and Records has the correct physical address with apartment number included.

Please note that receipt of and IVC debit card does not guarantee eligibility for a refund.